Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
Whether a multi-year or single-year write-off, it’s still coming off taxable income, not taxes owed.
That truck doesn’t become free. If your tax rate is 25% and you manage to write it off at 100%, you saved 10 grand in taxes. Which is nice if you need the truck, but if you don’t actually need it you’ve actually wasted $30,000.
Whether a multi-year or single-year write-off, it’s still coming off taxable income, not taxes owed.
That truck doesn’t become free. If your tax rate is 25% and you manage to write it off at 100%, you saved 10 grand in taxes. Which is nice if you need the truck, but if you don’t actually need it you’ve actually wasted $30,000.
That’s pretty much what I’ve been saying.
Profit and taxable income aren’t the same thing.